The 2020 Mid-Year Economic Update_long

Orders for Manufactured Goods Up 0.3% in October

Shipments were virtually unchanged.

New orders for manufactured goods in October, up following two consecutive monthly decreases, increased $1.4 billion or 0.3% to $497.0 billion, according to the U.S. Census Bureau. This followed a 0.8% September decrease. Shipments, up following three consecutive monthly decreases, increased less than $0.1 billion or virtually unchanged to $500.2 billion. This followed a 0.4% September decrease. Unfilled orders, up three of the last four months, increased $1.0 billion or 0.1% to $1,164.3 billion. This followed a virtually unchanged September decrease. The unfilled orders‐to‐shipments ratio was 6.67, down from 6.70 in September. Inventories, up ten of the last eleven months, increased $0.9 billion or 0.1% to $698.8 billion. This followed a 0.3% September increase. The inventories‐to‐shipments ratio was 1.40, unchanged from September. 

New orders for manufactured durable goods in October, up four of the last five months, increased $1.3 billion or 0.5% to $248.4 billion, down from the previously published 0.6% increase. This followed a 1.5% September decrease. Transportation equipment, also up four of the last five months, led the increase, $0.6 billion or 0.7% to $84.6 billion. New orders for manufactured nondurable goods increased $0.1 billion or virtually unchanged to $248.6 billion. 

Shipments of manufactured durable goods in October, down four consecutive months, decreased less than $0.1 billion or virtually unchanged to $251.6 billion, down from the previously published increase. This followed a 0.7% September decrease. Transportation equipment, also down four consecutive months, drove the decrease, $0.3 billion or 0.4% to $83.7 billion. Shipments of manufactured nondurable goods, up following two consecutive monthly decreases, increased $0.1 billion or virtually unchanged to $248.6 billion. This followed a 0.1% September decrease. Petroleum and coal products, up three of the last four months, drove the increase, $0.3 billion or 0.7% to $51.7 billion. 

Inventories of manufactured durable goods in October, up fifteen of the last sixteen months, increased $1.6 billion or 0.4% to $432.2 billion, up from the previously published 0.3% increase. This followed a 0.5% September increase. Transportation equipment, also up fifteen of the last sixteen months, drove the increase, $1.9 billion or 1.3% to $147.4 billion. Inventories of manufactured nondurable goods, down seven consecutive months, decreased $0.7 billion or 0.3% to $266.6 billion. This followed a virtually unchanged September decrease. Food products, down two of the last three months, led the decrease, $0.4 billion or 0.8% to $54.0 billion. By stage of fabrication, October materials and supplies increased 0.2% in durable goods and were virtually unchanged in nondurable goods. Work in process increased 0.8% in durable goods and decreased 1.3% in nondurable goods. Finished goods were virtually unchanged in both durable and nondurable goods. 

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